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Ripple Out-performs Amidst Crumbling Market

xRapid, an XRP based solution, is set to be launched in a month or so

Ripple (XRP) stuns market with 42.15% positive trend in crypto market with market cap of $18,425,510,610 USD at $0.462847. Though still far from the $3.65 high it witnessed back in January, the currency is doing good amidst this year’s virtual currency market collapse.

XRP chart
Source: CoinMarketCap

This year’s crypto fall is dubbed as ‘The Great Crypto Crash of 2018′, and was the time when, after an unprecedented boom in 2017, the price of almost all cryptocurrencies dropped more than 65%. The cryptocurrencies’ market capitalization lost at least 342 billion US dollars in the first quarter of 2018, previously the largest loss ever. The shockwaves are still felt in the market.

Although most currencies are showing a positive trend, XRP is outshining every one of them.

XRP Price chart
Source: CoinMarketCap

There could be two reasons for these dazzling figures:
1.PNC‘s join-in to Ripple group
2.The pre-launch hike of xRapid.

PNC is 9th largest bank of U.S. in asset category which recently joined RippleNet. Ripple now has more than 100 clients around the world and is operating in 40 countries.

The bank will be using xCurrent, a software solution product of RippleNet that enables banks to instantly settle cross-border payments with end-to-end tracking. Using xCurrent, banks message each other in real-time to confirm payment details prior to initiating the transaction and to confirm delivery once it settles.

xRapid
is the digital software solution that uses the digital asset, XRP, to offer on-demand liquidity, which dramatically lowers costs while enabling real-time payments in emerging markets. Currently, Ripple has several major institutions and companies testing xRapid, including MoneyGram, Western Union, Mercury FX, and Cambridge Global Payments.

XRP was released on as a fully operational distributed ledger in June 2012. The total amount of tokens was 100 billion XRP created before Ripple the company was formed in September 2012. After Ripple was founded, the creators of XRP, gifted a huge amount of XRP to the company. Ripple owned about 60 billion XRP, with the majority of it held by a trusted third party according to information listed on the company’s website.

In an interview, Sarbhai, head of regulatory relations for Asia-Pacific and the Middle East at Ripple, disclosed the news that Ripple will be launching xRapid in the coming days.

I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.

Swell, an event hosted by Ripple, that connects the world’s leading experts on policy, payments and technology for the most immersive dialogue on global payments will be held in San Francisco from October 1-2. With the former President Bill Clinton as keynote speaker and an audience that includes the most distinguished guests from around the world, keep your fingers crossed for some major announcements.

Sarim Mehmood

An electrical engineer to be. Sarim is a blockchain & crypto enthusiast and an early investor in ETH and Ethereum based projects. Contact the editor at editor.opinions@blockpublisher.com

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